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File #: 43655    Version: 1 Name: 10827 Air Space Lease - UW Music Performance Building
Type: Resolution Status: Passed
File created: 7/7/2016 In control: BOARD OF PUBLIC WORKS
On agenda: 9/6/2016 Final action: 9/6/2016
Enactment date: 9/9/2016 Enactment #: RES-16-00620
Title: Authorizing the Mayor and City Clerk to execute an air space lease with the Board of Regents of the University of Wisconsin System to accommodate the encroachment of an overhanging building canopy into the North Lake Street public right-of-way.
Sponsors: Zach Wood
Attachments: 1. Exhibit A - Leased Premises legal desc.pdf, 2. Exhibit B - Abutting Property legal desc.pdf, 3. Exhibit C - Site Plan and Elevation binder.pdf
Fiscal Note
No fiscal or budgetary impact.
Title
Authorizing the Mayor and City Clerk to execute an air space lease with the Board of Regents of the University of Wisconsin System to accommodate the encroachment of an overhanging building canopy into the North Lake Street public right-of-way.
Body
WHEREAS, the Board of Regents of the University of Wisconsin System (“UW”) is the owner of certain real property located at 740 University Avenue ( the “Abutting Property”); and

WHEREAS, the Abutting Property will be improved with a building commonly known as the Music Performance Building (the “Building”); and

WHEREAS, the design of the Building includes a canopy (the “Encroaching Building Canopy”), which will overhang the North Lake Street public right-of-way; and

WHEREAS, the City and the UW desire to enter into a lease for the air space over the North Lake Street public right of way to be occupied by the Encroaching Building Canopy; and

WHEREAS, the lease of the necessary air space over public right of way is in accordance with Wisconsin Statutes Section 66.0915(4).

NOW, THEREFORE, it is mutually agreed as follows:

1. The City shall lease to the UW certain air space over the North Lake Street public right-of-way (the "Leased Premises") for the construction, maintenance and operation of the Encroaching Building Canopy. The Leased Premises and Abutting Property are described on attached Exhibits A and B, respectively, and the site plan and elevations for the Building are depicted on attached Exhibit C.

2. The Lease shall be for a term of ninety-eight (98) years. The Lease shall commence as of December 1, 2016 (the “Effective Date”) and expire on November 30, 2114. The term “Lease Year” shall mean a full one (1) year period. The first Lease Year shall begin on the Effective Date. Each succeeding Lease Year shall begin on the anniversary of the Effective Date.

3. The Lease shall automatically renew for a subsequent ninety-eight (98) year period, unless e...

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